Cannonball Research
Cannonball Research, LLC
Cannonball Research is an independent equity research firm in New York covering advertising technology, connected TV and digital media stocks for institutional clients. It is not a registered broker-dealer or investment adviser and has no other business lines.
Company history
The firm was founded in New York in 2018 by a media and internet analyst who began in equity research in 2006 and had covered U.S. media at Susquehanna International Group from 2011, Sterne Agee from 2013 and CLSA Americas from 2015 to 2017. It runs on the Analyst Hub platform, which supplies distribution, compliance and back-office services to independent research firms.
- 2018Founded in New York as an independent research firm
Research
Coverage centres on advertising technology, connected TV and online media, including Magnite, AppLovin, Reddit, DoubleVerify and Liftoff as of 2026, with initiation reports, first-look earnings notes and model updates. Ratings are Buy, Neutral and Sell, defined as an expected price change of at least +15%, less than 15% in either direction, or at least -15% over 12 months.
Coverage12M
- Stocks
- 2
- Ratings
- 1
- Price targets
- 2
- Median upside
- +24.6%
- Upgrades
- 0
- Downgrades
- 1
- Initiations
- 0
- Reiterations
- 0
- Positive0%0
- Neutral100%1
- Negative0%0
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 TTDThe Trade Desk, Inc. | Neutral | $15 |
 UUnity Software Inc. | — | $54 |
Analysts24M
- Vasily KarasyovTTD1
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
| The Trade Desk, Inc.TTD | Downgrade | Neutral | $15 | Aug 7 |
| Unity Software Inc.U | Target | $54 | Nov 20, 2025 | |
 Reddit, Inc.RDDT | Target | $67 | Aug 6, 2024 | |
| MGMagnite, Inc.MGNI | Target | $17 | Jun 3, 2024 | |
 Roku, Inc.ROKU | Upgrade | Neutral →Buy | Nov 27, 2023 | |
| MGMagnite, Inc.MGNI | Downgrade | Buy →Neutral | Jun 5, 2023 | |
| Roku, Inc.ROKU | Downgrade | Buy →Neutral | Nov 4, 2022 | |
| NYThe New York Times CompanyNYT | Downgrade | Buy →Neutral | Sep 2, 2022 | |
| NYThe New York Times CompanyNYT | Downgrade | Buy →Neutral | Jun 22, 2022 | |
 AppLovin CorporationAPP | Target | $107 | Jan 10, 2022 | |
| DVDoubleVerify Holdings, Inc.DV | Reiterate | Buy | Nov 22, 2021 |
References
- Cannonball Research - Important Disclosurescannonballresearch.com
- Cannonball Research - Coveragecannonballresearch.com
- Cannonball Research - LinkedInlinkedin.com
- Analyst Hubanalysthub.com